Festicket Likely to Enter Administration as Moratorium Ends

A new filing at Companies House, ending the moratorium filed recently by Festicket, states that “the company is unable to pay moratorium debts [and] pre-moratorium debts for which the company does not have a payment holiday during the moratorium”.

It had been suggested that the moratorium had been filed as talks were being held about a possible purchase or restructuring, but papers filed as the moratorium ended stated that : “The moratorium is no longer likely to result in the rescue of the company as a going concern. The board resolved on 29 Aug that the company should enter administration proceedings and that a Notice Of Intention To Appoint Administrators be filed”.